Posted on August 02, 2018

The State of Qatar and Republic of Indonesia signed a memorandum of understanding (MoU) on developing the tourism sector in Indonesia, where Qatar Investment Authority (QIA) allocated $500m to carry out a number of tourism projects in 10 sites chosen by the Indonesian government.

From the Qatari side, the MoU was signed by CEO of QIA Sheikh Abdulla bin Mohammed bin Saud Al Thani and from the Indonesian side it was signed by Coordinating Minister for Maritime Affairs of the Republic of Indonesia, General Luhut Binsar Pandjaitan.

Sheikh Abdulla bin Mohammed bin Saud Al Thani expressed his gratitude for signing the MoU with the Indonesian government. He also highlighted QIA’s keenness to invest and contribute to the tourism development seen in Indonesia. General Luhut Binsar Pandjaitan expressed his content with the strategic partnership with QIA, which in turn will deepen the relations between both countries. Several tourism sites have been chosen by the Indonesian government to hold projects that support local tourism in aim to increase the gross domestic product and to achieve Indonesian government’s national vision for 2030.

Qatar Investment Authority, the sovereign wealth fund of the State of Qatar, is a respected global institution that operates to the very highest standards and invests strategically to achieve superior and sustainable returns. Since 2005, it has built a major global portfolio that now spans a broad range of asset classes and regions. It has done so by investing and managing the funds it is responsible for in a professional, strategic and prudent manner; and by simultaneously developing QIA into a dynamic, multinational, world-class organisation.

source: The Peninsula